Every report lives on one tab, behind one picker. Change the report and the table changes. The controls around it stay where they are.
Two ways in
From the sidebar. Click Reports under Quick links (keyboard shortcut Alt+P), then choose a return from the Select Return list. The list skips archived clients and returns still being imported.
From a return. Open the return and click the Report tab.
Both land on the same place.
Pick a report
The Report Template dropdown sits at the top left. Seventeen reports are available. Fourteen show on every return. Three more appear once the return has assets allocated to a state.
Federal and book reports
Report | What the table shows |
Depreciation Schedule | Every asset, with placed-in-service date, method, convention, cost, Section 179, bonus, current year, total accumulated and remaining |
Summary by Class | One row per recovery period, with asset count and the same money columns rolled up |
Vehicle/Listed Property | Vehicles and listed property, with GVWR, business use percentage, basis and a 280F column |
Disposals | Assets disposed this year, with disposal date, target form, adjusted basis, sale proceeds and gain or loss |
Current-Year Additions | Assets placed in service in a year you pick, with Section 179, bonus and depreciable basis, subtotaled by quarter. See List a year's asset additions |
Roll-Forward | Beginning basis, additions, disposals, depreciation and ending basis, by class |
Book Depreciation Schedule | Per-asset GAAP figures: useful life, salvage, book method, current year, accumulated and book NBV |
Tax vs. Book Reconciliation | Tax depreciation, book depreciation and the difference between them, per asset |
AMT Adjustment | Regular MACRS next to AMT MACRS, with the adjustment and a status column |
QBI Qualified Property | Qualified property with cost / UBIA, QBI period end, activity and status |
GL Rollforward & Reconciliation | Opening, additions, disposals and closing per GL account, next to a trial balance figure and its variance |
5-Year Asset Projection | Projected depreciation on the assets you already own, five years out, federal and book |
Journal Entries | The balanced entry table: account, account name, description, debit, credit |
Property Tax Listing | Assets on hand at an as-of date you choose, at recorded original cost. A preparer workpaper, not a completed tax return |
State reports
State Modification Worksheet, Federal-to-State Reconciliation and State Depreciation Schedule appear in the picker once the return has assets allocated to a state. If you do not see them, check the State forms tab: it names the state and says whether any assets are allocated to it. A state enabled on the entity with no assets allocated to it produces no state depreciation, so the three reports stay hidden.
Picking one of the three switches the Context selector to that state automatically.
The other selectors
Context and State appear once the return has assets allocated to a state. Context toggles between Federal and the state; State picks which one, when assets are allocated to more than one.
Group By and Activity sit to the right, on the reports that offer them. See Group and filter a report.
Which figures you are looking at
The Report tab always shows the current calculation for the return, worked from the assets and elections as they are now. There is no run to pick. To keep a dated record of a calculation, press Recompute depreciation on the History tab; the runs recorded there, and Compare Runs, are unaffected by anything you do on the Report tab.
Above the table
A row of summary cards shows the return totals: assets, current year, Section 179, bonus, accumulated and remaining basis. These do not change when you filter the table.
Most reports also carry a short blue note under the table explaining what the report covers. It is worth reading once per report.